ss="xn-money">$1.3 million ($0.02 per common share) for the year ended December 31, 2009, compared to a net loss of $60.4 million ($0.95 per common share) for the year ended December 31, 2008. The decrease in net loss for the year was largely due to the revenue recognized from the upfront payment of U.S.$60.0 million, the milestone payment of U.S.$15.0 million and a U.S.$7.0 million payment for shipment of clinical supplies from our collaborative partner, Merck & Co., Inc. Decreased research and development expenditures related to vernakalant (oral) in the current fiscal period due to the completion of the Phase 2b trial in 2008 also contributed to the decrease in net loss for fiscal 2009. This was partially offset by a foreign exchange loss on translation of U.S. denominated net monetary assets into Canadian dollars for reporting purposes at year end.

Total revenue for fiscal 2009 was $54.7 million, an increase of $53.1 million from $1.6 million in fiscal 2008.

Research and development expenditures were $30.5 million for fiscal 2009, compared to $49.2 million for fiscal 2008. General and administration expenditures for fiscal 2009 were

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